[Interview] Chief Anayo Alozie, Managing Director, Iga-Shar Services, Nigeria
Chief Anayo Alozie has occupied several high-level management positions in the Nigerian private and public oil sectors. He is currently the Managing Director of Iga-shar Services, Nigeria.
His interview with Africa Business Communities:
Would you introduce Iga-shar Services?
Iga-Shar Services Limited was incorporated in Nigeria in 1998, to among other things be engaged in the business of trading in commodities, engineering and construction. We have been actively involved in the gas and petroleum sector of the Nigerian economy both in trading its commodities and in servicing the oil majors. We are beneficiaries of the 30% Local Content Law in Nigeria. The law opened up a bit of the industry which has allowed indigenous companies to participate in some aspects of the oil and gas industry in Nigeria.
Why did you start Iga-shar Services?
We just wanted to have a voice in the oil and gas industry particularly as our own community has about 27 oil wells and a flow station and out of the 27 oil wells, our own kindred has 7. While growing up, only non-indigenes were working and doing business with Shell and Agip that were operating from our communities. It became a burden to us and we decided to set up the company to participate and contribute to the growth of the oil and gas industry. We have not gotten to where we are headed but our voice is being heard in the industry.
What did you do before starting up Iga-Shar Services?
I worked in both private and government organizations, rising to become the Managing Director of Imo State Oil Producing Areas Development Commission. It was a Commission set up by the Government of Imo State of Nigeria to manage the funds accruable to oil communities and use same to develop the areas in terms of constructing critical infrastructure for the people like roads, hospitals, etc.
What can be done by entrepreneurs and government to stimulate the business environment in Nigeria?
Government has to build critical infrastructures like roads, electricity, hospitals, portable drinking water, schools, etc. It has to have policies that will bring about massive employment of the teeming youths. The monetary and fiscal policies of government must give room for foreign investments, particularly, the tax regime.
What’s the best part about doing business in Nigeria?
I would say the abundance of skilled and semi-skilled labour; the availability of raw materials and relatively cheap labour. But the critical challenge we have is high cost of power. However, with the massive investment in the power sector in Nigeria, l believe the power challenge will be a thing of the past in less than two years from now.
What expectations do you have for the Nigerian economy in the second half of 2015?
There is great promise in the new government. Nigeria’s economy will pick up a bit when this government settles down for business.
Africa Business Communities is conducting a series of interviews with CEOs and high-end professionals in Africa. Are you interested in an interview? Please send an e-mail to Andrea Ayemoba: andrea@africabusinesscommunities.com